EMC Mortgage

The EMC Mortgage Corp. Company has been operating since 1990 and has grown to more than a thousand employees since then. They engage in the acquisition and securitization of residential loans. They are very competitive in their pricing and their portfolio management. You can rest assure that they are a reputable firm and that they are a member of the MBA servicing over four hundred thousand loans at any given time. So far they have received very favorable ratings by reputable rating agencies such as the S&P and Moody’s.

They usually offer to buy jumbo mortgages or any type of non-performing residential mortgages. Before they do buy a non-performing loan though, their underwriting staff usually performs a due diligence background check. You don’t need to worry about the legalities of your acquired non-performing mortgage security. Usually though, they buy these types of loans on a bulk basis or whatever is suitable for them at the moment. EMC Mortgage Corp. underwriting staffs are well versed in the securities market. They have been trained already to spot inconsistencies you might find in defaulting mortgage loans. They usually acquire fixed rate and adjustable rate mortgages along with jumbo type of mortgages those that have defaulted already. Any lender who is nervous about their prospect for a possible market downturn or an eventual default by their client can rest assured that EMC Mortgage Corp. will back them up with their extensive funding capabilities. Their pricing strategies are not that bad considering they are using Broker’s Pricing Opinion Index (BPO).

As for their customers, they provide an automated and convenient customer care service center that is available round the clock. They show their dependability when there are cases of loan delinquency by talking to the home owner about to default other options that they might be able to work-out. Before finalizing the foreclosing process, they at least explore things like a re-structuring of the clients debt. They might offer you an interest only loan thus enabling you to pay for your mortgage loan at a much later date where you are presumably much more financially solvent.

As a rule, EMC Mortgage Corporation also places a lot of importance to the protection of the homeowner from natural calamities like a flood for example. They would require you to have a protection insurance from these before you even apply a loan to them. In the event that the client has no insurance protection yet, they strongly urge people to get one that are most favorable to them. After they get one, EMC Mortgage Corp. asks for a written document that proves the acquisition of the homeowner of protection insurance. They even go so far as to pay a reimbursement of the cost paid by their clients. As soon as the homeowner can provide proof of their insurance coverage from flood or other hazards associated with home ownership, they give them a reimbursement of the cost it took.

The EMC Mortgage Corp. is truly an outstanding company because they also provide informative seminars in places where there are large numbers of their clients that are on the verge of default. They also ensure that there are no customer complaint that goes unresolved by doing customer survey on a regular basis.